38.2-1306.3 - Nonadmitted assets. - Virginia Statutes

§ 38.2-1306.3. Nonadmitted assets.

A. "Nonadmitted assets" or "not admitted assets" means those assetsidentified and reported as nonadmitted assets by or in accordance with theNational Association of Insurance Commissioners (NAIC) accounting practicesand procedures manuals, and any other asset or category of assets identifiedas nonadmitted in this title or which the Commission by rule or regulationidentifies as an asset which shall be reported as a nonadmitted asset.

B. Goodwill, if admitted, may be admitted on or after January 1, 2001,subject to the guidance in the NAIC accounting practices and proceduresmanuals.

(2000, c. 46.)